Japan Finance Minister Kato:
Stated that a weak yen has both merits and demerits.Said there is a need to monitor how excessive forex movements will affect corporate activities and households.Emphasized that action must be taken if necessary, while monitoring the impacts of forex movements on economic and household activities.Indicated that specific policy steps would be left to the Bank of Japan, when asked whether the policy rate should be maintained at 0.25%.Expressed hope that the Bank of Japan will communicate thoroughly with markets and take appropriate policy measures to achieve the 2% inflation target in a stable and sustainable manner.
This article was written by Eamonn Sheridan at www.forexlive.com.
